26 C
Lagos, South Africa and New York
Tuesday, August 4, 2020

Apple wont pay $15 billion in Irish taxes, EU court rules

The European Commission said in 2016 that Ireland had enabled Apple to pay “substantially less tax than other businesses over many years.” But the EU’s general court decided that the commission failed to prove that the Irish government had given the U.S. tech...

Is China Ready to Decouple Dollar Dependence?

As trade and political tensions escalate between China and the US, there are increasing calls in China to reduce dependence on the dollar. Washington is threatening to impose secondary sanctions on Chinese financial institutions servicing people on the US sanctions list and considering delisting Chinese...

Martin Wolf: ‘Democracy will fail if we don’t think as citizens’

“It is clear then that the best partnership in a state is the one which operates through the middle people, and also that those states in which the middle element is large, and stronger if possible than the other two together, or at any...

Tensions mounts on the Nile over Africa’s largest dam

Egypt, Ethiopia, and Sudan are engaged in last-ditch talks to resolve a dispute over Addis Ababa’s construction of a giant dam on the river Nile that Cairo fears could lead to damaging water shortages. This month Ethiopia is set to start storing water in the...

Italian mafia bonds sold to global investors

International investors bought bonds backed by the crime proceeds of Italy’s most powerful mafia, according to financial and legal documents seen by the Financial Times. In one case, the bonds — backed in part by front companies charged with working for the Calabrian ’Ndrangheta mafia...

Lockdown heroes: will they ever get a raise?

“Hero pay”, it was dubbed. When coronavirus took hold in the US in March, Christian Zamarrón and his colleagues at an Amazon delivery centre in Chicago were given an extra $2 an hour — a reward for being thrust into the frontline of America’s...

Ukraine scraps bond sale after central bank governor quits

Ukraine has cancelled a bond sale hours after the country’s central bank chief Yakiv Smolii announced his resignation due to “systematic political pressure” that he said threatened the institution’s independence. Mr Smolii’s departure, a setback for President Volodymyr Zelensky, could jeopardise a recently agreed IMF...

US Supreme Court strikes down restrictive Louisiana abortion law

he US Supreme Court has struck down a restrictive abortion law in Louisiana, in a blow for American conservatives who want to overturn Roe vs Wade, the landmark 1973 decision that established a woman’s legal right to an abortion. In its first major abortion decision...

Africa faces worst economic shock since 1970s, says IMF chief

Africa will need more financial help to avoid “long-lasting, terrible consequences” from the coronavirus pandemic, Kristalina Georgieva, managing director of the IMF, said as the fund predicted a region-wide contraction of 3.2 per cent this year, far worse than it had forecast just 10...

William Barr: defender of the presidency or a threat to rule of law?

In November, hundreds of lawyers from the Federalist Society, an influential conservative group which has been in the ascendancy under Donald Trump, squeezed into the grand ballroom of the Mayflower Hotel to hear William Barr speak. Giving the keynote address, the US attorney-general delivered a...
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